First Citizens Bank Welcomes New Equipment Finance Executive in Strategic Leadership Move

First Citizens Bank Welcomes New Equipment Finance Executive

On September 29, 2025, First Citizens Bank made a significant announcement regarding the leadership of its Equipment Finance Group. Rod Versteegh, who previously held the position of Global Business Unit President at DLL, is stepping into the role of Equipment Finance Executive at First Citizens. This appointment brings over three decades of experience in the finance industry to the bank, underscoring its commitment to enhancing its Equipment Finance services.

According to Peter Bristow, President of First Citizens Bank, Rod’s extensive background and proven success in sectors like material handling, construction, transportation, machine tools, agriculture, and more make him an invaluable addition to the organization. Bristow noted, “Rod has a clear track record of success that we are eager to build upon. His leadership will be an incredible asset.”

Rod himself also expressed his enthusiasm about joining First Citizens Bank, stating, “I am thrilled to join First Citizens Bank and honored to lead one of the largest and best equipment finance organizations in the industry.” He anticipates fruitful collaboration with his new team to support clients and drive business growth, particularly at a time ripe for innovation and change in the finance sector.

Rod succeeds Mike Jones, the current Equipment Finance President, who will retire after three decades in the industry. Under Jones's leadership, First Citizens has consistently ranked among the largest and most successful equipment lenders, as recognized by Monitor magazine. Bristow praised Jones’s tenure, highlighting his ability to foster a client-focused culture while implementing significant operational improvements that set the organization apart in the marketplace.

To ensure a seamless transition, Jones will continue to provide advisory support to the Equipment Finance team through early 2026. This strategic move aims to uphold the efficiency and effectiveness that clients expect from First Citizens Bank.

Joining Rod in this revitalized leadership team is James Ferguson, another former DLL executive appointed as Managing Director of Sales. With a tenure at DLL that spanned over 12 years, most recently focusing on global new business and strategic marketing, Ferguson is expected to play a crucial role in enhancing the financing solutions offered by First Citizens.

First Citizens Bank’s Equipment Finance group is recognized for its empowerment of original equipment manufacturers, vendors, and small to midsize businesses by delivering tailored equipment financing solutions. The group employs a unique sales strategy that combines inside and outside coverage, bolstered by advanced technology platforms and the expertise necessary for successful market operations.

As First Citizens Bank continues to solidify its presence in the Equipment Finance sector, it remains committed to building lasting financial strength for its clients through innovative solutions tailored to a wide array of needs in various industries.

The significance of this leadership change lies not just in the appointments of Rod Versteegh and James Ferguson, but in the future direction of First Citizens Bank’s Equipment Finance Group. The bank’s dedication to supporting its clients and ensuring a culture of excellence remains a focal point as they navigate this transition.